Who is funding the anti-LTT campaign

[Linda Felt]

It needs to be pointed out that in response to someone who said the CCV endorsed candidates were afraid to speak in public, you responded with "Oh please - enough already! We are so tired of this.
Bradshaw, Cotton, Brooks, and Bryant have been invited to attend the Conservative Voter's forum on Nov 2."

Are you now saying that they will be speaking to a private, invitations-only meeting?

Face it - they don't have the guts to face off with the Pittsboro Together candidates in an open debate.

The incumbants' records are awful and the new guys bring nothing of substance.

[gooberpea]

Once again....what thread is this?  Oh, yeah....LTT.  Are you really holding on to your last bread crumb....the candidate forum....is that going to be your new answer for everything?

[Linda Felt]

It's salient that Bradshaw skipped off to an anti-LTT event in Siler City rather than campaign in Pittsboro.

Is he running for election in Siler now?

[SBB]

Interesting facts Analyst!  The bigger question that is burning in my mind is.....who is funding the pro-LTT campaign? 

The Chatham County Democratic Party is also supporting the Land Transfer Tax.  The LTT is a less regressive tax than the Impact Fee as it is tied to the value of the property rather than being a flat fee.

[srvfan]

The Chatham County Democratic Party is also supporting the Land Transfer Tax.  The LTT is a less regressive tax than the Impact Fee as it is tied to the value of the property rather than being a flat fee.

Only in the case of buying a brand new house.

Anyone that buys an existing home would pay the LTT, then if they bought another home to make room for a growing family/downsize to a smaller home after children leave or for any other reason they would pay another LTT tax.

In the past I've called the LTT tax a sales tax, which according to most progressives a sales tax is one of the most regressive taxes out there.  However after some thought on the matter it's not a sales tax, it's worse.  The reason I say this is because a sales tax is only paid by the end user, in the case of a LTT it will be paid on the sale of the land, the sale of the lots by the developer, the sale of the house by the contractor and each and every time in the future that house is sold.  AND it is paid on the entire purchase price not just the "profit" as some would have it sound by calling it a tax on those profiting from real estate transactions.

[NC YIPPIE]

I believe that still makes it a sales tax. Right? All of those examples involve something actually being sold.

[srvfan]

It is a sales tax, but it's worse than a normal sales tax.

for example sales tax on a widget.

Manufacturer buys material for $100, exempt from sales tax.  Manuracturer sells to wholesaler for $200, exempt from sales tax, wholesaler sells to retailer for $300, exempt from sales tax, retailer sells to me or your for $400, at that time it's subject to sales tax.  If you or I resell in the future I'm not aware of it being subject to sales tax at that time.

In the case of the LTT sales tax is paid at each step, which will increase the cost to the next person in the process so it's a sales tax paid on a sales tax paid on a sales tax paid on a sales tax.

[chrstnhsbndfthr]

Srvfan,

Don't forget that it is even MORE regressive because many people will have paid the full impact tax and then also be paying the LTT on TOP OF IT!!

[Linda Felt]

At this point the the anti-LTT folks who back Bradshaw and Max Cotten have raised almost $70,000 - almost entirely from outside interests.  So much for actually representing Pittsboro or Chatham County.

This is almost 7 times more than Pittsboro Together has raised.

[chrstnhsbndfthr]

Why is it okay for Pittsboro Together to raise money in Moncure and Durham and Chapel Hill and not for the statewide effort against this new tax to work together to defeat it?  That logic just doesn't fly.

[Tags:]

Jump to: Please select a destination: ----------------------------- Chatham County Online ----------------------------- => Chatham County Online => Chatham County Schools => Chatham County Food & Drink => Chatham County Music & Arts => Chatham Community Calendar => Free Classifieds & Help Wanted Ads => Noah's Ark - All Creatures Great & Small. => Neighbor to Neighbor => Gardening and Agriculture => Chatham County Real Estate => North Carolina => This, That and Everything Else